How do social shopping sites make money
Social: Five ways brands make money here
The right way to increase revenue naturally depends on the respective business area. It is important that it cannot just be about getting as many likes, followers and +1s as possible. Because that alone does not fill the cash register. Habib Amir from InfluenceD has put together five ways to increase sales via social media for the Wall Blog, which will become important in 2013.
Facebook competitions link to product pages
Users who romp around on social networks are often on a journey of discovery. That means: They are not looking for products, they are discovering products in social networks - and that can then lead to product purchases. In order to attract customers, you need a mixture of incentives and easy challenges - for example competitions. Brands that understand this will try to use interactive elements to encourage customers to discover products. The result: Customers are encouraged to be more committed, click their way through to the product pages and, at best, become buyers.
Twitter engagement is rewarded with bonuses
Most brands get retweets from competitions or similar incentives. In 2013 brands will certainly use this increasingly to increase their revenues. An example: In order to get a voucher for 20 percent on a certain e-commerce site, the user has to retweet the tweet. This increases the awareness of brands and at the same time makes the cash register ring.
YouTube videos with “call to action” overlay that links to product pages
Sure, the brand first needs a video that encourages users to share. For 2013, Habib Amir predicts that even more brands will rely on “call-to-action” overlay. These are links to videos that enable the user to click through to certain pages on which the advertised product can then be purchased.
Product offers posted on Google+ conversations
In 2012, recommendations from conversations on Google+ also appeared in Google's search results. A special link to a product is thus also given a social coating. And is therefore all the more valuable, since product recommendations via the social web are often better received by users than traditional advertising. Habib Amir expects brands to invest more in the area of Google+ conversations.
Shopping Cart Links in Social Media Conversations
How can online shopping be simplified? Brands will use their social media channels to link to shopping sites that users trust. For example to Amazon. With the attached link “Add to shopping cart” the path is easy for the user.
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